Active Duty Special Forces Agent Converting $1800 to $18,000 on 1st Deal



In today’s episode, let’s reveals how Michael gets the 26 Doors in 1 year with the right relationships & no marketing dollars spent.


⠀Mike Glaspie is a Commercial Real Estate Broker in Fayetteville, NC. For the past 10 years, he served in US Army Special Operations. Since purchasing his first investment property in 2014, Mike has completed several transactions in a variety of ways such as ‘Subject-To’s, wholesales, flips, and buy and holds. Mike currently holds over 35 rental properties, controls over $1.5 million of assets under management, and co-founded the Five Pillars real estate team — all while serving full time in the military.

KEY TAKEAWAYS:

  • 3:00 Starting with house hack in 2014
  • 4:50 Government pension wasn’t a part of Mike’s long term plan
  • 5:26 1st deal using a V.A. loan & turned out to be a bad investment
  • 6:05 Mike used a subject 2 transaction to own a house for only $1800
  • 18:00 How Mike found his deal through networking
  • 9:20 Doing his 1st deal. He talks about how scared he was but he was resourceful
  • 10:15 How Mike structured this subject 2 deal
  • 11:40 How to use a land trust to circumvent the lenders due on sale clause
  • 15:00 Converting $1800 to $18,000
  • 17:55 How buying foreclosures properties and making the crucial decision to get licensed
  • 21:30 Refocusing his real estate strategy to build a portfolio of 36 total doors
  • 24:00 Mike’s wholesale failure lost him $1500 and ruined his reputation
  • 28:30 How your network can increase your business. This is how Mike increased his portfolio without and marketing money
  • 31:40 Finding money to close deals using lines of credit
  • 37:37 Why Mike almost quit 8 deals and $15,000 loss in 1 month
  • 41:43 HOT SEAT⠀

Connect with Michael at:
https://fivepillarsrealty.com
Instagram@michael.s.glaspie

Book/Resources Request:
The One Thing by Gary Keller
https://amzn.to/3pRNCmW

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